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Wednesday, January 4, 2017

Palmetto State and Destructive Devices Industries join

P R E S S R E L E A S E

JJE Capital Acquires DDI under same umbrella as PSA

Columbia, S.C. (January 2,2017)- In an acquisition that strengthens the USA made AK
market JJE Capital (PSA’s parent company) announced the purchasing of a majority
equity interest in the boutique firearms manufacturer and importer Destructive Devices
Industries. Palmetto State Armory CEO Jamin McCallum was quoted saying “This move
will allow a concentrated effort by both PSA and DDI to continue the growth of the all
American made AK-47 and its variants.” David Fillers of DDI will continue with the
company as a financial partner as well as in an advisory role, he was quoted saying; “It
was time to take DDI to the next level, and the best way I saw to do that was to partner
with a proven industry leader.” Both PSA and DDI will remain separate entities, but will
partner on R&D and compatibility in all related fields in order to pass on the benefit to
the customer. This level of detail will be acquired through a joint venture between the
two companies known as the “AK Excellence Center” which will be located in Columbia,
SC and will focus on new developments for the iconic firearm. DDI also announced that
its focus moving forward will be the US production of quality rifles. DDI will continue to
stand behind all imported items that were previously sold, but from this point forward
will no longer be a firearms importer. Adam Ruonala, Chief Marketing Officer of
Palmetto State Armory said; “This move is a chance for two innovators of the American
AK platform to come together, and with that kind of creativity at the helm, there is no
telling how far this ship can go!”